Sean "P. Diddy" Combs' Bad Boy Records has terminated its joint venture with Arista. Combs leaves with full ownership of Bad Boy and the label's complete artist roster and back catalog. Although the m

Sean "P. Diddy" Combs' Bad Boy Records has terminated its joint venture with Arista. Combs leaves with full ownership of Bad Boy and the label's complete artist roster and back catalog. Although the move was expected, Combs has not yet revealed Bad Boy's plans for future distribution, promotion, and marketing support. In the meantime, Arista will provide these services on an interim basis for recent Bad Boy projects, including Combs' chart-topping remix album, "We Invented the Remix."

"I have enjoyed my successful partnership with Arista and most recently working with [president/CEO Antonio] L.A. Reid," Combs said in a statement. "I decided it was time to move my company to a new home and I wish L.A. the best and look forward to working with him in the future."

"The history of Bad Boy and Arista over the past 10 years resulted in a revolutionary shift in the music business," Reid said. "P. Diddy and his Bad Boy Records remain at the forefront of the rap and hip-hop movement, whose culture and climate continue to influence today's musical scene. I value my relationship with Sean and I wish him well in his future endeavors."

Combs' long-awaited gospel collection featuring Hezekiah Walker, Kelly Price, Brian McKnight, John P. Kee, and others will be one of the first releases under Bad Boy's new venture. A page in the remix CD's booklet ("Coming Soon ... Bad Boy Records Class of '02-'03") listing Carl Thomas, Dream, Tammy Ruggieri, and others hints at who else will fill out the Bad Boy roster.

"Future announcements on the artist and executive fronts will let people know clearly that this year will definitely be a chart-topping one for Bad Boy," Combs told Billboard in mid-May. "This is a remarkable deal for a company in general, let alone a black company."